ATLANTIC INTERNATIONAL CORP

For the period ended Jun 30, 2024. Filed Aug 14, 2024.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Jun 30, 2024 · Filed Aug 14, 2024

CIRC$0.18-13.2%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

See the whole filing, with its images and exhibits

Condensed Consolidated Statements of Operations

**ATLANTIC INTERNATIONAL CORP. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

** (Unaudited)**

	Three Months Ended June 30,		Six Months Ended June 30,
	2024	2023	2024	2023
Service revenue, net	$104,636,273	$89,364,602	$205,259,485	$187,392,724
Cost of revenue	93,146,627	78,426,842	183,304,457	164,708,406
Gross profit	11,489,646	10,937,760	21,955,028	22,684,318
Selling, general and administrative	18,553,150	11,187,268	28,894,187	21,329,274
Change in fair value of contingent consideration liabilities	—	(400,000)	—	(500,000)
Depreciation and amortization	1,249,054	1,256,985	2,508,608	2,520,804
(Loss) income from operations	(8,312,558)	(1,106,493)	(9,447,767)	(665,760)
Loss on debt extinguishment	1,213,379	—	1,213,379	—
Advisory fees paid in the merger	43,000,000	—	43,000,000	—
Interest expense	4,000,024	4,032,944	9,022,254	7,723,033
Other expense	15,607,737	—	15,607,737	—
Net loss before provision for income taxes	(72,133,698)	(5,139,437)	(78,291,137)	(8,388,793)
Income tax benefit	17,221,979	1,523,345	18,512,574	2,444,418
Net loss	$(54,911,719)	$(3,616,092)	$(59,778,563)	$(5,944,375)
Net loss per share, basic and diluted	$(1.96)	$(0.14)	$(2.23)	$(0.23)
Weighted-average shares outstanding, basic and diluted	28,081,013	25,423,729	26,752,371	25,423,729

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.